I've got the S2 and there is not advanced color calibration settings, just the few modes Samsung includes, most of which tend to over saturate among other things.
A third party app from the play store may be able to accurately calibrate it, I've never bothered to try calibrating anything but a laptop display in the past so I couldn't recommend a specific app.
I don't think the average person realizes how much variation actually exists between displays, same color can even look different when displayed side by side on 2 of the exact same model display if not calibrated correctly. Can be a real pain for content creators.